{"id":47161,"date":"2023-10-19T19:26:09","date_gmt":"2023-10-19T19:26:09","guid":{"rendered":"https:\/\/entertainment.runfyers.com\/index.php\/2023\/10\/19\/poshmark-to-shut-down-india-australia-and-uk-businesses-techcrunch\/"},"modified":"2023-10-19T19:26:09","modified_gmt":"2023-10-19T19:26:09","slug":"poshmark-to-shut-down-india-australia-and-uk-businesses-techcrunch","status":"publish","type":"post","link":"https:\/\/entertainment.runfyers.com\/index.php\/2023\/10\/19\/poshmark-to-shut-down-india-australia-and-uk-businesses-techcrunch\/","title":{"rendered":"Poshmark to shut down India, Australia and UK businesses | TechCrunch"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div id=\"\">\n<div class=\"article__featured-image-wrapper breakout\">\n\t\t\t\n\t\t<\/div>\n<\/p><\/div>\n<div>\n<p id=\"speakable-summary\">Poshmark is shutting down its international businesses \u2013 operations in India, Australia and the UK \u2013 as the social shopping marketplace shifts attention to \u201ccore markets,\u201d the company informed customers.<\/p>\n<p>The firm\u2019s marketplace will become inaccessible in India, Australia and the UK on November 2, it said. Some features such as the ability to use Posh Credit will start expiring on October 25.<\/p>\n<p>Poshmark expanded to India and Australia in 2021, whereas its entry to the UK happened in January this year.<\/p>\n<p>\u201cWhile our ambition is to connect as many closets as possible, we are closing our marketplace in India, Australia, and the UK to focus on and increase our investments in our core markets of the U.S. and Canada,\u201d the company <a href=\"https:\/\/support.poshmark.in\/s\/article\/International-Closure-FAQ?language=en_US\" target=\"_blank\" rel=\"noopener\">wrote<\/a> in <a href=\"https:\/\/support.poshmark.com\/s\/article\/International-Closure-FAQ?language=en_US\" target=\"_blank\" rel=\"noopener\">accompanying<\/a> FAQ pages.<\/p>\n<p>Thursday\u2019s move follows South Korean giant Naver <a href=\"https:\/\/techcrunch.com\/2022\/10\/03\/naver-agrees-to-acquire-fashion-marketplace-poshmark-for-1-2b\/\" target=\"_blank\" rel=\"noopener\">acquiring Poshmark<\/a> in a deal last year that valued the peer-to-peer resale platform at $1.6 billion, a fraction of its $7.3 billion peak market cap.<\/p>\n<p><em>[H\/T <a href=\"https:\/\/twitter.com\/digbijaymishra1\/status\/1715068136737907122\" target=\"_blank\" rel=\"noopener\">Digbijay Mishra<\/a>]<\/em><\/p>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><br \/>\n<br \/><a href=\"https:\/\/techcrunch.com\/2023\/10\/19\/poshmark-international\/\" target=\"_blank\" rel=\"noopener\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Poshmark is shutting down its international businesses \u2013 operations in India, Australia and the UK \u2013 as the social shopping marketplace shifts attention to \u201ccore markets,\u201d the company informed customers. The firm\u2019s marketplace will become inaccessible in India, Australia and the UK on November 2, it said. Some features such as the ability to use [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":47162,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[],"class_list":{"0":"post-47161","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-tech"},"_links":{"self":[{"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/posts\/47161","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/comments?post=47161"}],"version-history":[{"count":0,"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/posts\/47161\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/media\/47162"}],"wp:attachment":[{"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/media?parent=47161"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/categories?post=47161"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/tags?post=47161"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}